Question 18 of 20 -/1 Question Multiple Chok View Policies Current Attempt in Progress Question 1 Multiple Choice Blossom Co. at the end of 2020, its first year of operations, prepared a reconciliation between pretax financial income and taxable Income as follows: Question 14 Multiple Choke Pretax financial income Estimated stigation expense Installment sales Taxable income $1140000 2900000 (2320000) $1720000 Question 15 Multiple Choice Question 16 Multiple Choice The estimated Kitigation expense of $2900000 will be deductible in 2022 when it is expected to be paid. The gross profit from the installment sales will be realized in the amount of $1160000 in each of the next two years. The estimated liability for litigation is classihed as noncurrent and the installment accounts receivable are classified as 51160000 current and $1160000 noncurrent. The Income tax rate is 20% for all years. Question 17 The Income tax expenses Viewing Questi Question 19 $580000 $228000 5344000 $1160000 Question 20 Type here to search